Banking Data Sources & Best Practices

Audit Sight leverages banking data to automate and enhance cash-based testing. Providing high-quality banking data is critical to ensuring accurate and complete results.

This article outlines the types of banking data supported, when to use each, how Audit Sight handles overlapping sources, and common setup issues to avoid.

Supported Banking Data Sources

Audit Sight supports several methods for importing banking activity. Teams can choose the method that best fits the engagement and the data available from the client.

Connected Banking Data

Connected data is obtained through direct integrations (e.g., Plaid or Codat).

Benefits:

• Typically more complete and reliable
• Faster to ingest and process
• Standardized formatting

Transaction Export Uploads

Upload CSV or Excel transaction exports from the bank.

Typical Use:

• When clients provide exported transaction data
• When connections are unavailable

PDF Bank Statements

Upload bank statements that are parsed into transactions.

Typical Use:

• When exports are unavailable or incomplete

Upload Template

Structured template used to import banking transactions and account information.

Typical Use:

• Standardized uploads across multiple accounts

When to Use Each Source

• Use connected data whenever possible for the most reliable and complete results
• Use uploaded data to supplement gaps when connected data is unavailable or incomplete

Multiple sources can be used for the same account. However, it is important to understand how Audit Sight handles overlapping data.

💡 Tip: If you provide multiple sources for the same account and period, Audit Sight will not combine them—it will select a single source per day (explained below).

Banking Data Sources & Overlapping Data

When multiple banking data sources exist for the same account (based on account number), Audit Sight automatically organizes and de-duplicates the data to prevent double counting.

⚠️ Important: Audit Sight treats overlapping sources as competing datasets—not complementary ones.

How Audit Sight Handles Overlapping Sources

When overlap is detected, Audit Sight will:

• Consolidate sources into a single account view
• Evaluate transactions on a daily basis
• Select one source per day as the "winning" dataset
• Remove duplicate transactions from other sources

Think of this as Audit Sight selecting one "official" version of transactions per day per account.

Transactions are not merged across sources. Audit Sight selects the most reliable dataset for each day.

How Audit Sight Selects Data (Simplified)

Same Account + Same Day
        ↓
Multiple Sources Detected
        ↓
Apply Priority Rules:
   1. Connected > Uploaded
   2. More Transactions Wins
   3. Source Hierarchy
        ↓
Select ONE "Winning" Source
        ↓
Exclude All Other Sources for That Day

How the Winning Source Is Selected

Audit Sight applies a consistent prioritization logic:

1. Connected data is prioritized over uploaded files
2. More complete data wins
3. A predefined source hierarchy is used as a tie-breaker

What This Means in Practice

• Only one set of transactions will appear per day per account
• Uploaded statements may not appear if connected data exists for the same period
  This is expected behavior and helps prevent duplicate or conflicting data
• Transactions are not combined across sources
• In some cases, a lower-priority source may contain transactions that are not present in the selected source for a given day
  Because Audit Sight selects a single source per day, those transactions will not appear in the analysis

How Audit Sight Handles Multiple Sources (Summary Table)

Non-Overlapping Data Sources (Examples)

To avoid confusion and ensure complete results, sources should provide unique transaction coverage.

Example: Good vs. Problematic Setup

Common Banking Data Issues

Extra Accounts Appearing in the Mapping Screen

This often occurs when the Bank Accounts tab in the upload template is populated but no transactions are provided.

Result:

• Additional accounts appear in mapping screens
• Extra banking sources are created
• Review screens may appear cluttered

Best Practice:
Only populate the Bank Accounts tab when banking transaction data is included in the upload.

Overlapping Banking Sources

Examples include:

• Bank connection + CSV export for the same period
• CSV export + PDF statements covering the same months
• Multiple uploads containing the same transaction period

Result:

• Transactions may be excluded due to prioritization logic
• Data may appear incomplete if the selected source is missing activity

Best Practice:
Confirm that transaction coverage does not overlap across sources.

Multiple Bank Connections for the Same Account

This can occur due to:

• Different user credentials
• Multiple team members connecting accounts
• Accounts being connected through different institutions

Result:

• Multiple transaction feeds for the same account

Best Practice:
Ensure each bank account is only connected once unless a specific reason exists.

Efficient Banking Data Setup

To prepare banking data efficiently:

Step 1 — Identify Accounts in Scope
Confirm which bank accounts should be included

Step 2 — Determine Available Data
Identify whether the client can provide connections, exports, or statements

Step 3 — Assign Data Sources
Choose sources that best cover the transaction period

Step 4 — Confirm Coverage
Ensure:

• Full coverage of the testing period
• No overlapping data sources

Quick Troubleshooting Checklist

Before generating results, review the following:

✔ Confirm the expected number of bank accounts
✔ Review the bank account mapping screen
✔ Verify transaction coverage across the testing period
✔ Check for overlapping transaction sources
✔ Confirm accounts are not connected multiple times unintentionally

Key Takeaways

• Multiple banking data sources can be used for the same account
• Sources should provide unique transaction coverage
• Avoid overlapping date ranges across sources
• Connected data is prioritized over uploaded data
• Only one source per day is used in analysis
• Populate the Bank Accounts tab only when importing transaction data

By understanding how Audit Sight prioritizes and de-duplicates banking data, teams can better control their inputs and avoid unexpected results in their analysis.